Opera (NASDAQ:OPRA) Stock Price Down 7.5%

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Opera Ltd (NASDAQ:OPRA)’s share price traded down 7.5% on Thursday . The company traded as low as $10.88 and last traded at $10.95, 790,461 shares changed hands during trading. An increase of 446% from the average session volume of 144,784 shares. The stock had previously closed at $11.84.

A number of research analysts have recently weighed in on the stock. B. Riley set a $19.00 price target on shares of Opera and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup set a $14.00 target price on shares of Opera and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Zacks Investment Research upgraded shares of Opera from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday.

The stock has a market cap of $1.30 billion, a P/E ratio of 25.25 and a beta of 2.02. The firm’s fifty day moving average is $11.92 and its 200 day moving average is $10.00.

Opera (NASDAQ:OPRA) last announced its earnings results on Thursday, August 22nd. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.05. The firm had revenue of $61.73 million for the quarter, compared to the consensus estimate of $55.65 million. Opera had a net margin of 14.40% and a return on equity of 4.49%. Equities research analysts anticipate that Opera Ltd will post 0.26 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WT Asset Management Ltd acquired a new stake in shares of Opera during the 1st quarter valued at about $50,318,000. A.R.T. Advisors LLC acquired a new position in Opera in the second quarter valued at about $118,000. Cim LLC acquired a new position in Opera in the second quarter valued at about $137,000. Nomura Holdings Inc. acquired a new position in Opera in the second quarter valued at about $496,000. Finally, Anchor Capital Advisors LLC boosted its position in Opera by 52.5% in the first quarter. Anchor Capital Advisors LLC now owns 54,530 shares of the company’s stock valued at $358,000 after buying an additional 18,770 shares in the last quarter. Institutional investors own 4.52% of the company’s stock.

About Opera (NASDAQ:OPRA)

Opera Limited, through its subsidiaries, provides mobile and PC web browsers in Ireland, Russia, and internationally. It offers mobile browser products under the Opera Mini, Opera for Android, and Opera Touch names; PC browser under the Opera for Computers name; Opera News, a personalized news aggregation app; and Okash, a microfinance app.

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